by Conductive carbon black is witnessing rapid growth owing to its increasing applications in Li-ion batteries and electromagnetic interference (EMI) shielding materials. Conductive carbon black provides conductivity to polymers and plastics without compromising their mechanical and electrical properties. It is commonly used in lithium-ion battery electrodes to enhance electrical conductivity. The burgeoning electric vehicle industry is fueling the demand for high-performance lithium-ion batteries which is driving the conductive carbon black market. Conductive carbon black is also finding increasing usage in EMI shielding materials for electronics devices and equipment.
The Global Conductive Carbon Black Market is estimated to be valued at US$ 777.86 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in The Conductive Carbon Black are 63 Moons Technologies Limited, MetaQuotes Software Corp., Algo Trader AG, Refinitiv Ltd, and Virtu Financial Inc. The growing demand for electric vehicles and increasing sales of consumer electronics are providing significant growth opportunities to market players. Technological advancements in lithium-ion batteries such as solid-state batteries and nano-coated silicon electrodes are expected to drive the consumption of advanced carbon additives like conductive carbon black.
Market drivers
The rising electric vehicle production and sales is a major factor fueling the demand for conductive carbon black. Stringent government regulations regarding vehicle emissions are propelling automakers to shift towards electric mobility. This is positively impacting the conductive carbon black consumption. Additionally, the growing electronics industry is augmenting the market growth owing to the increasing usage of conductive carbon black in electronics components for properties like electromagnetic interference shielding.
Current challenges in Conductive Carbon Black Market
The conductive carbon black market players are facing challenges due to fluctuating raw material prices and geopolitical issues. Carbon black manufacturers are facing difficulties in procuring raw materials like furnace black oil at stable prices. Also, ongoing global trade wars and political tensions are impacting supply chains and export-import of products. Strict government regulations over carbon emissions during manufacturing is another challenge.
SWOT Analysis
Strength: High electrical & thermal conductivity properties make carbon black a preferred material for various applications.
Weakness: Vulnerable to price fluctuations of raw materials.
Opportunity: Growing demand for conductive carbon black from lithium-ion batteries of EVs and electronics presents an opportunity.
Threats: Stringent emission norms can limit production volumes. Shift towards graphene may also threaten market share in future.
The conductive carbon black market in North America currently holds the largest share in terms of value, given the strong presence of automotive and electronics industries. Asia Pacific region is expected to witness the fastest growth during the forecast period due to rising adoption of EVs and established electronics manufacturing base in China.
In terms of volume, China contributes to a major portion of global conductive carbon black demand. This is attributed to the huge electronics and automobile manufacturing industries and presence of leading carbon black manufacturing facilities. Japan and South Korea are other large Asian countries consuming sizeable amounts of conductive carbon black for batteries and electronic devices.
